International School of Carthage


A Consortium composed of Meninx Holding, a Tunisian family group and a long-term investor across a number of sectors, SPE Capital, an independent private equity firm covering Africa and the Middle East and Holged, the leading operator of K-12 schools in Morocco, has been confirmed as the acquirer of International School of Carthage (ISC), for a total consideration of TND 66.6 million. ISC is the premier private K-12 establishment in Tunisia and boasts over 2200 students.

The Consortium confirms its intention to further develop the offering of ISC, in line with the school’s values, the best interest of the students and the requirements of the current and future environment. This transaction signals the development, by the Consortium, of the leading K-12 education provider in Tunisia, starting the immediate launch of a new school in Sfax. To achieve this, the Consortium will rely on the expertise of Holged, which has been in the private education sector since 1986 and currently operates 12 establishments across 7 cities in Morocco, with over 8200 students.

Mr. Mehdi Tamarzizte, General Manager of Meninx Holding, declared that, “beyond the educational expertise, this transaction constitutes a unique opportunity to attract to Tunisia leading players who are have invested with our Moroccan Partners, including MovIbrahim-Satya and TPG Growth”.

Ahmed Benyahia, CEO of Holged, also declared: “our objective is first to maintain and further strengthen the academic offering of ISC. Interaction between Holged and ISC will enable us to achieve this goal via the sharing of best practices”.

Nabil Triki, Managing Partner of SPE Capital, added: “this investment will be part of an ever-growing portfolio of investments in Tunisia since 2011 for us. It demonstrates our desire to further grow our activities in North Africa in general and Tunisia specifically. We plan to work hand in hand with our partners to realize the objectives we’ve laid out for this existing venture”.